Lithuania: Industrial output growth surges to near six-year high in April
May 23, 2019
Industrial output soared 16.5% in annual terms in April, picking up markedly from a 2.6% year-on-year increase in March and marking the highest reading in nearly six years. The acceleration largely reflected significantly more robust output growth in the manufacturing sector, partly thanks to higher manufacture of refined petroleum products. This, coupled with a strong rebound in the electricity, gas, steam and air conditioning supply sector, more than offset softer mining and quarrying output growth.
On a month-on-month basis, industrial output contracted 0.3% in seasonally and working-day adjusted terms in April, compared to a 3.4% increase in the previous month. Meanwhile, annual average growth in industrial production edged up to a five-month high of 5.2% in April, from to 4.2% in March.
Lithuania Industrial Production Forecast
Our panelists expect industrial production to expand 4.1% in 2019, unchanged from last month’s projection. For 2020, our panel expects output growth of 3.4%.
Author: Almanas Stanapedis, Research Team Manager